Comment on My credit union no longer allows me to payoff pending purchases made on my credit card
SpaceNoodle@lemmy.world 1 day agoSo it sounds like the solution to increasing the score tracking how good you are at paying bills when they are due is to pay bills when they are due?
BertramDitore@lemmy.zip 1 day ago
I pay my bills on time every month. That’s only one factor for your credit score. Another big part of your score is credit utilization, or the amount of credit you use vs. how much credit you have available to you. So paying off my cards the way I described is how I keep my usage percentage at a minimum. I’ve seen big increases to my score since I started paying closer attention to that factor.
My checking account pays excellent interest, but my monthly cashback from my credit cards is always more.
I’m curious why you seem so opposed to some people choosing to use their credit cards this way? Your implication by bringing up debit cards and due dates is that we’re somehow not being responsible with our money, but that’s just not the case. I’m not attacking you, just curious why it seems to bug you?
SpaceNoodle@lemmy.world 1 day ago
What I’m seeing in this post is that people want a good score that is supposed to reflect their ability to pay bills on time without explicitly paying bills on time. Simple tracking one’s spending and paying off credit card statements and they come in is a great way to build credit, but it does require a minimal amount of fiscal responsibility in the form of tracking one’s own spending habits over the course of a single month.
BertramDitore@lemmy.zip 1 day ago
I get what you’re saying, but paying a bill before its due date is still paying that bill on time. I also keep track of my spending habits, and am completely on top of and in control of my finances. I just also choose to pay my credit card balance as I go.
SpaceNoodle@lemmy.world 1 day ago
Allow me to further attempt to better communicate the key points in the timeline.
The time of purchase is well before the statement date, which precedes the due date.
ToP — SD — DDThe “expected” behavior is to pay the statement balance between the statement date and the due date.